All Forum Posts by: Kat Hughes

Thank you @Cherie Orellana !  I'll definitely look into that!

Hi!

Currently own a 3 unit property in Los Angeles Ca. I would like to find great deals in Utah, specifically small multi family homes in Syracuse and/or South Ogden. From watching a whole lot of BP webinars, I am convinced that the best way to find great deals is to find them off market and not through the MLS. Since I'm trying to invest in a different state, I can't exactly just drive around those areas and look for the properties to match their owners and send letters to. What is the best way to find leads so I can send letters out and hopefully find a great deal when I don't live in the area I want to invest in?

Thank you for the replies and helpful tips!  We are most likely going through the refinance and I guess my question is when?  We just updated one of our bathrooms and the garage (turned it into a room) and we have the option to remodel the kitchen and the 2nd bathroom.  Should we wait to refinance after the kitchen and 2nd bathroom have been remodeled, possibly giving us a better appraisal?  If so, how good of a value will the fixes give us?  Or we can just refi now and do the remodels after...

Hi! New to bigger pockets and would love some advice on refinancing or not...

We bought a $640K Multi Family home in 2012 (north hollywood, Ca) with a 3.5% interest rate, FHA loan.

We refinanced in 2015 and took out 100K which brought us to 709k with a 4.875% interest rate.

We're now at about 680k with a $4800 mortgage, $600 of which is our MIP which I guess we can't drop until 2027 unless we refinance with a conventional loan. M&T bank used the lock in MIP so we cant remove it even though our house has appreciated over 40% in the last few years.

Should we refinance again to take that MIP off but then possibly have an even higher interest rate OR, just wait till we finish paying that MIP? We would save roughly 3-500 per month by dropping the MIP, but then lose a few years of paying off the mortgage.

Thanks in advance for reading and maybe giving some advice! :)

Hi!  New to bigger pockets and would love some advice on refinancing or not...

We bought a $640K Multi Family home in 2012 (north hollywood, Ca) with a 3.5% interest rate, FHA loan.

We refinanced in 2015 and took out 100K which brought us to 709k with a 4.875% interest rate.

We're now at about 680k with a $4800 mortgage, $600 of which is our MIP which I guess we can't drop until 2027 unless we refinance with a conventional loan. M&T bank used the lock in MIP so we cant remove it even though our house has appreciated over 40% in the last few years.

Should we refinance again to take that MIP off but then possibly have an even higher interest rate OR, just wait till we finish paying that MIP? We would save roughly 3-500 per month by dropping the MIP, but then lose a few years of paying off the mortgage.

Thanks in advance for reading and maybe giving some advice! :)